Leading Australian workplace solutions tech company closes largest raise in 2018, turning it into a US$330m business.
KANSAS CITY – 21 May 2018 – SafetyCulture, the company that facilitates more than a million safety and quality inspections globally per month, announced today that it has successfully completed a US$45.5 million Series C funding round.
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SafetyCulture is best known for its award-winning checklist app, iAuditor, which empowers teams to improve safety and quality in the workplace by reporting safety issues and non-compliances as they happen. Companies using iAuditor – which include Coca-Cola, CBRE, Marriott and Brinks – can create smart checklists, conduct on-site inspections, analyse data and share insights in real time.
Click here to download interview with founder and CEO Luke Anear, images and b-roll.
The capital raise was led by New York investment firm, Tiger Global Management. Other investors include previous supporters Blackbird Ventures, Index Ventures, Morpheus Ventures and Scott Farquhar (co-founder at Atlassian). Following this funding round, SafetyCulture has raised a total of US$74 million and is now valued over US$330m.
The funding will be used to accelerate SafetyCulture’s global go-to-market expansion, build out its product and engineering teams, and invest in new areas such as internet of things (IoT) and workplace training.
Luke Anear, Founder and CEO of SafetyCulture, said: “SafetyCulture is expanding at a breakneck pace. In the last year alone, over 100 new staff were hired to support the company’s growth. However, most of the world doesn’t know we exist; they’ve never heard of SafetyCulture. This funding means that we can continue to build great products, better serve more customers and have a bigger impact on safety and quality for workers all around the world.”
Rick Baker, co-founder of Blackbird Ventures said SafetyCulture had pioneered a bottom-up sales model reminiscent of Atlassian.
“SafetyCulture continues to power ahead, and this funding round reflects the fast growth and low customer acquisition costs it has been able to achieve. The capital injection will allow SafetyCulture to continue to scale and bring better workplace safety to the world,” he said.
Jan Hammer, Partner at Index Ventures and an early backer and board member of SafetyCulture, said SafetyCulture was redefining how companies approached safety and quality assurance.
“SafetyCulture has attacked a $150 billion market that still largely relies on checklists recorded on paper. We’ve been impressed at how quickly some of the world’s largest companies rolled out SafetyCulture’s iAuditor app — clearly addressing a pressing need. The market is ripe for disruption and SafetyCulture is leading the way,” added Hammer.
SafetyCulture has attracted 15,000 organisations to its platform, and has grown its staff from 85 in 2017 to 214 employees today across its offices in Kansas City, Sydney, Townsville, Manchester and Manila.
SafetyCulture also recently released its second app, Spotlight, which is an incident reporting app that allows teams to act immediately, with real-time alerts for incidents, hazards and near-misses.
SafetyCulture is now looking for new commercial sites for its US headquarters in Kansas City and its global headquarters in Sydney to accommodate its growing team. It will more than triple its team in the US and UK in the coming year. Over the next three years the company aims to reach over 100 million users on the platform and become the global standard for safety and quality management across all industries.
“The North American market currently makes up over 30% of our customers, serviced from our US base in Kansas City. Such a significant injection of capital enables us to invest in the talent and marketing needed to continue to grow as a truly global company. This is an exciting time in SafetyCulture’s history. We have only built one percent of what our customers need. We reached 15,000 companies with minimal sales or marketing, and now it’s time to take SafetyCulture to the rest of the world,” added Anear.
About SafetyCulture
SafetyCulture is on a mission to empower workers to make safety and quality a priority and improve workplace standards. Founded in a garage in Townsville by former private investigator Luke Anear, SafetyCulture now has more than 200 staff with operations in Australia, the US, the UK and the Philippines. The flagship app iAuditor was launched in 2012 and is used for more than 300 million audit responses each year to ensure high safety and quality standards. Spotlight, SafetyCulture’s latest offering, makes incident, hazard and near-miss reporting a collaborative, real-time experience for teams.
SafetyCulture supports the worker-driven movement for change at the most iconic companies in the world, including Coca-Cola, CBRE, Marriott and Brinks. In order to bring the technology to all mobile devices, SafetyCulture collaborates with Apple, Microsoft, and HP. For more information, visit www.safetyculture.com.
About Tiger Global Management LLC
Tiger Global Management, LLC is an investment firm that deploys capital globally. The Firm’s fundamentally oriented investments focus primarily on the global Internet, software, financial technology and consumer sectors. The private equity strategy has a ten-year investment horizon and targets growth-oriented private companies. Such investments have included Spotify, Warby Parker, JD.com, Facebook, LinkedIn, Yandex, Mail.ru Group, Despegar, Flipkart, Harry’s and Peloton. The public equity efforts emphasize deep due diligence on individual companies and long-term secular themes. Tiger Global Management, LLC was founded in 2001 and is based in New York with affiliate offices in Hong Kong, Singapore, Bangalore and Melbourne.
Stills and video are available at this link: http://bit.ly/SafetyCultureFunding